Integrated Wealth Concepts LLC Buys New Stake in Atlas Energy Solutions Inc. (NYSE:AESI)

Integrated Wealth Concepts LLC bought a new position in shares of Atlas Energy Solutions Inc. (NYSE:AESI) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 11,609 shares of the company’s stock, valued at approximately $253,000.

A number of other hedge funds also recently bought and sold shares of AESI. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Atlas Energy Solutions by 1.1% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,696,418 shares of the company’s stock worth $53,740,000 after purchasing an additional 30,082 shares during the last quarter. Meridian Wealth Advisors LLC lifted its holdings in shares of Atlas Energy Solutions by 25.8% during the second quarter. Meridian Wealth Advisors LLC now owns 2,677,490 shares of the company’s stock worth $53,362,000 after buying an additional 548,620 shares during the last quarter. Copeland Capital Management LLC boosted its position in shares of Atlas Energy Solutions by 19.8% in the third quarter. Copeland Capital Management LLC now owns 1,884,032 shares of the company’s stock valued at $41,072,000 after acquiring an additional 311,228 shares during the period. Cooke & Bieler LP grew its stake in shares of Atlas Energy Solutions by 775.7% in the second quarter. Cooke & Bieler LP now owns 1,699,013 shares of the company’s stock worth $33,861,000 after acquiring an additional 1,504,988 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Atlas Energy Solutions by 13.9% during the second quarter. Victory Capital Management Inc. now owns 1,622,241 shares of the company’s stock worth $32,331,000 after acquiring an additional 197,783 shares during the period. 34.59% of the stock is currently owned by institutional investors.

Atlas Energy Solutions Price Performance

Atlas Energy Solutions stock opened at $23.16 on Friday. The business has a 50 day simple moving average of $21.42 and a 200 day simple moving average of $21.04. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08. The company has a market capitalization of $2.55 billion, a PE ratio of 29.32, a price-to-earnings-growth ratio of 11.53 and a beta of 0.96. Atlas Energy Solutions Inc. has a one year low of $15.55 and a one year high of $24.93.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.25). Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The company had revenue of $304.40 million for the quarter, compared to the consensus estimate of $307.93 million. During the same period in the previous year, the business posted $0.51 earnings per share. The firm’s revenue was up 93.1% compared to the same quarter last year. On average, sell-side analysts forecast that Atlas Energy Solutions Inc. will post 0.88 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were given a $0.24 dividend. The ex-dividend date was Thursday, November 7th. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 4.15%. Atlas Energy Solutions’s payout ratio is 121.52%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AESI. The Goldman Sachs Group began coverage on shares of Atlas Energy Solutions in a report on Friday. They issued a “neutral” rating and a $23.00 price target for the company. Barclays cut shares of Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $23.00 to $19.00 in a research note on Tuesday, November 12th. Pickering Energy Partners downgraded Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $25.00 price target on shares of Atlas Energy Solutions in a report on Wednesday, October 30th. Finally, Citigroup lowered Atlas Energy Solutions from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $23.00 to $22.00 in a report on Thursday, November 14th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $24.67.

Insider Buying and Selling at Atlas Energy Solutions

In other news, major shareholder Stacy Hock sold 8,571 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $21.49, for a total value of $184,190.79. Following the completion of the sale, the insider now directly owns 934,746 shares in the company, valued at approximately $20,087,691.54. This trade represents a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Brian Anthony Leveille sold 12,500 shares of Atlas Energy Solutions stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $23.95, for a total value of $299,375.00. Following the completion of the transaction, the insider now directly owns 419,510 shares of the company’s stock, valued at $10,047,264.50. This represents a 2.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 60,869 shares of company stock worth $1,187,983 and have sold 119,642 shares worth $2,650,185. Company insiders own 24.34% of the company’s stock.

About Atlas Energy Solutions

Atlas Energy Solutions Inc engages in the production, processing, and sale of mesh and sand that are used as a proppant during the well completion process in the Permian Basin of Texas and New Mexico. The company provides transportation and logistics, storage solutions, and contract labor services. It sells its products and services to oil and natural gas exploration and production companies, and oilfield services companies.